Category Archives: Companies

Reuters – Retailer Wal-Mart de Mexico said on Wednesday it will invest $1.3 billion in logistics in Latin America’s No. 2 economy, in what is perceived as a show of commitment to Mexico at a time of uncertainty after the election of Donald Trump.

Mirror – British workers who were given the chance to keep their jobs if they moved to Mexico have rejected the “insulting” offer. Tire giant Goodyear gave 330 workers at its only UK plant the choice of being made redundant or moving 5,000 miles away .

WSJ – Investors cheered after Constellation Brands Inc. acquired the U.S. rights to Anheuser-Busch InBev NV’’s fast-growing Mexican beers in a $5 billion-plus deal in 2013. But shares were 8.3% lower at $152.76 in early afternoon trade on concern a Donald Trump presidency could hurt the largest U.S. distributor of Mexican beer, including Corona, the country’s top-selling import.

Reuters – Mexican homebuilder Geo named a new chief executive officer, less than a year after the previous CEO took over. Juan Carlos Diaz, who previously headed Mexican homebuilder Sare, replaced Juan Carlos Brainff on Oct. 24.

UPI – Constellation Brands announced plans to acquire a Grupo Modelo brewery for $600 million to meet growing demands of its beer imported south of the border. The brewery in Obregon is a subsidiary of Anheuser-Busch InBev. Constellation’s best-selling imported beer brands include Corona, Modelo and Pacifico.

WRTV -Another Indianapolis company has “tentatively decided” to move jobs to Monterrey, Mexico. Rexnord Bearings announced to its employees hat some jobs were going to be moved out of the country beginning in 2017, according to the union that represents those employees.

The move comes just 8 months after Carrier workers found out their jobs were being phased out of an Indianapolis manufacturing plant and instead moved to Carrier’s facility in Monterrey.

CNBC – Ford Motor Executive Chairman Bill Ford Jr. said on Wednesday he has met with Donald Trump to talk about the Republican presidential candidate’s extensive criticism of the automaker’s investments in Mexico. Ford told the Economic Club of Washington that he thought Trump’s criticism of the No. 2 automaker’s foreign investments were “infuriating and “frustrating” because of the company’s extensive investments and employment in the United States. Trump has threatened if elected to impose hefty tariffs on Ford imports from Mexico.

WSJ – Citigroup Inc. added its name to its closely watched Mexico unit and announced plans to upgrade its retail business in the country with an investment of more than $1 billion by 2020. The unit, previously called Banco Nacional de México or Banamex, will now be known as Citibanamex. The change ties the Mexican unit, which ran into problems while operating relatively independently a few years ago, more closely to its U.S. parent.

Bloomberg – AT&T Inc.’s U.S. wireless customers might be tempted to try signing up for its service in Mexico instead. South of the border, AT&T offers a 6-gigabyte data, voice and text plan — including full coverage in the U.S. — for a whopping 69 percent less, in dollar terms.

Reuters – Canada’s Goldcorp Inc said it was temporarily shutting down operations at its Peñasquito gold mine in Mexico, following a week-long blockade by a trucking contractor to protest the miner’s plans to diversify its local transportation supply chain.

Reuters – Infraestructura Energetica Nova will offer about $350 million in a primary stock offering later this month, the firm said on Monday. The offer will consist of 323 million shares, but could rise to 380 million shares, including over-subscription options and additional placement options. The company, known locally as IEnova, is a unit of U.S. firm Sempra Energy.

WSJ – Mexican state oil company Petróleos Mexicanos sold $4 billion in long-term bonds to buy back existing debt and prefund some of its 2017 financing needs. In addition, Pemex carried out a bond exchange for around $1.6 billion.

Reuters – Mexican cement maker Cemex said on Thursday it had launched a tender offer for up to $500 million in outstanding 7.250 percent senior secured notes due in 2021. The early tender date was Oct. 14, 2016, with a second tender deadline set on Oct. 27, 2016.

Fortune – The Mexico unit of SolarCity, the rooftop solar developer controlled by billionaire Elon Musk, aims to invest as much as $1 billion over the next five years. The projected outlay will depend on Mexico keeping at current levels an incentive known as net-metering that requires utilities to buy surplus power generated by rooftop solar panels.

Bloomberg – Cisco Systems Inc. plans to spend as much as $4 billion in Mexico through 2018 to expand production, creating jobs in the country even as the American company cuts its global workforce by 7 percent. The spending will lead to the 270 new direct jobs and 77 related positions. The biggest maker of equipment that runs the internet plans to upgrade its factories and increase production through contract manufacturers.